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Ripple

Take advantage of ripple (XRP) price movement with the world’s No.1 CFD provider, 1 and you’ll never need to own any cryptocurrency.

Key benefits

Go short as well as long

Trade if you think ripple’s price is headed up or down

No exchange account

We deal with multiple exchanges to find you the best price

Improved liquidity

So there’s more chance of executing your full trade at your chosen price

What is ripple?

Ripple is two things:

A payment network (RippleNet) that enables the transfer of any currency – including other cryptocurrencies – around the world

The cryptocurrency (XRP) which underpins that network

Unlike other cryptocurrencies such as bitcoin or litecoin, ripple wasn’t invented to replace fiat currency. Instead, it uses the principles of the blockchain to facilitate faster, cheaper global payments for banks and other major institutions – acting as a competitor to existing systems like SWIFT. However, like its rivals, you can speculate on the price movements of XRP.

Ripple CFDs

Ripple leveraged trading

When you buy ripple with IG, you aren’t actually taking ownership of any cryptocurrency: you’re speculating on the price movements of XRP against the US dollar. But your exposure to XRP’s price movements is the same as if you’d bought it outright.

On an exchange, you’d usually sell USD to buy XRP. If ripple’s price rises, then you can sell your XRP for more USD than you paid for it, earning a profit. If you buy ripple with IG, then you’re opening a position that will increase in value as XRP’s price rises against dollar. With both, you’ll make a loss if its price goes down.

When you deal ripple using leverage, however, you only have to put down a fraction of your position’s full size as a deposit to start trading. That makes leveraged trading a powerful tool, but it also makes it risky – including the risk that your losses could exceed that original deposit.

With IG, you can trade ripple via CFDs. It allows you to go short on ripple as well as long, which means that your position will increase in value if ripple goes down against the dollar. If you go short and ripple’s price goes up, you’d make a loss.

Ripple CFD example

You open a CFD position when XRP is trading at $3.00, and our price is 304 to buy and 296 to sell.

You think that ripple is headed down in price, so you sell 10 CFDs at 296. This is the equivalent of selling 10 ripple coins for $2.96 each.

Ripple enters into a bear market, dropping 25 points to $2.75. Our price is now 279 to buy and 271 to sell. You buy 10 CFDs at 279 to close your position.

279 – 296 = -17, so your position has moved 17 points. 17 x 10 is 170, giving you a gross profit of $170.

If you’d bought ripple instead of selling it, then you would have lost $330 (25 points plus eight points from the spread).2

Alternatives to ripple

FAQs

Do I need a ripple wallet to trade XRP with IG?

No. When you trade ripple with IG, you are speculating on the price movements of XRP against the dollar, without buying or selling any actual cryptocurrency. So you don’t need a wallet, an exchange account, or any specialist technology to get started.

When are your ripple markets available?

Our ripple market opens at 4am on Saturday and closes at 10pm on Friday (London time). Please note that holidays may affect these hours.

1 For CFDs, based on revenue excluding FX (published financial statements, October 2016)

2 Excludes any daily funding charges.

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CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand the risks and take care to manage your exposure.

CFD, accounts provided by IG Markets Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355) is authorised and regulated by the Financial Conduct Authority.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.